Kinara Capital, an MSME fintech has raised a fresh equity round of Rs 380 crores led by Nuveen . in this round Triple Jump, a Dutch impact-focused investment manager advising the ASN Microkredietfonds also participated.
Kinara Capital got two new members on its Board of Directors with Nuveen's Managing Director & Co-Head of Private Equity Impact, Rekha Unnithan, and Nuveen’s Director of Private Equity Impact, Stephen Lee.
This fresh equity round will be utilized in
With the help of advanced AI/ML, the company’s myKinara app can take MSME applicants from loan decision-to-disbursement within 24-hours. Around 300 sub-sectors across Manufacturing, Trading, and Services MSME sectors can avail Kinara’s business loans in the range of INR 1-30 lakhs.
Its product list include-
They support ongoing needs such as shop renovations, purchase of raw materials, machine servicing, hiring of seasonal employees. Existing Kinara customers can further attain benefits with lower-cost loans of shorter tenure by opting for a Short-Term Working Capital Loan or Loan against Property.
Hardika Shah, Founder and CEO, Kinara Capital, said, “We at Kinara Capital are immensely thrilled with the dual investment from Nuveen and Triple Jump who are uniting to support small business entrepreneurs in India, the world’s fastest-growing major economy. This is a true attestation of our sustainable business model and the vast MSME market opportunity ahead of us.”